Accounting & Bookkeeping

Our Crystal Lake CPA firm provides a variety of bookkeeping and accounting services to our clients. We can customize a package to meet your specific needs.

As a small business owner you have more important things to do than to keep your own books. We handle the bookkeeping for you, so you can get back to the job of growing your business and generating profits!

By outsourcing your accounting to us you will:

Receive accurate financial data and make fact-based decisions

Take control of your finances

Improve your cash flow

Allow you time to grow your business

Spend more time with family and the things you enjoy

Click here for a complete description on how our setup process works; you’ll be impressed!

Each month we’ll do the following things for you…

Enter your transactions

Reconcile your bank account

Generate an income statement

Generate a balance sheet

Clean up your general ledger

Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.

Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists!

Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.An income statement allows you to…

Track revenues and expenses so that you can determine the operating performance of your business.

Determine what areas of your business are over-budget or under-budget.

Track dramatic increases in product returns or cost of goods sold as a percentage of sales.

Determine your income tax liability.

Balance Sheet
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time. A balance sheet helps you…

Quickly get a handle on the financial strength and capabilities of your business.

Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.

Determine if your business is in a position to expand.

Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?

Determine if you need to take immediate steps to bolster cash reserves?

Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us create review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultations
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

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See What Our Clients Are Saying!

Steve and the SMT Team provide fast, professional, and affordable services to prepare and submit our company's annual tax returns, Federal and State. We have been very happy, and really like their online site for uploading and downloading documents...very handy!

~ Scott M.

2014-02-06T12:42:54+00:00

Steve and the SMT Team provide fast, professional, and affordable services to prepare and submit our company's annual tax returns, Federal and State. We have been very happy, and really like their online site for uploading and downloading documents...very handy! ~ Scott M.

http://smt-associates.com/testimonials/786/

Everyone we have had contact with at SMT has been very professional and courteous to us. We had several questions regarding tax issues for our business and your responses were prompt and we werer able to understand the issues very clearly after contacting SMT.

~ Anonymous

2014-02-06T13:18:50+00:00

Everyone we have had contact with at SMT has been very professional and courteous to us. We had several questions regarding tax issues for our business and your responses were prompt and we werer able to understand the issues very clearly after contacting SMT. ~ Anonymous

http://smt-associates.com/testimonials/802/

Steve and his staff are professional, friendly, timely and patient with those of us that are not tax savvy. They give guidelines, updates and encouragement throughout the year. We came to SMT after having a bad experience with a former accountant. Steve and his staff immediately started working on previous tax returns and within no time had our records and taxes corrected. We do and will continue to recommend SMT & Associates.

~ Marjorie O.

2014-02-06T13:10:20+00:00

Steve and his staff are professional, friendly, timely and patient with those of us that are not tax savvy. They give guidelines, updates and encouragement throughout the year. We came to SMT after having a bad experience with a former accountant. Steve and his staff immediately started working on previous tax returns and within no time had our records and taxes corrected. We do and will continue to recommend SMT & Associates. ~ Marjorie O.

http://smt-associates.com/testimonials/800/

I have used several accounting and business consults for my personal accounting. SMT by far exceeds my expectations. Steve continues to WOW our family with his professional, prompt, and excellent service. I would recommend Steve and team to my family, friends and business contacts in a heartbeat.

~ Gary F.

2014-02-06T13:09:13+00:00

I have used several accounting and business consults for my personal accounting. SMT by far exceeds my expectations. Steve continues to WOW our family with his professional, prompt, and excellent service. I would recommend Steve and team to my family, friends and business contacts in a heartbeat. ~ Gary F.

http://smt-associates.com/testimonials/799/

I have been using the tax preparation services of SMT & Associates, Inc. for more than ten years. They prepare my business taxes, our family taxes and our now mostly grown children's taxes. They are always prompt, professional and friendly to work with. I wouldn't go anywhere else. The comfort of knowing that our tax preparation is done right the first time every time is worth it's weight in gold.

~ Ginny I.

2014-02-06T13:08:18+00:00

I have been using the tax preparation services of SMT & Associates, Inc. for more than ten years. They prepare my business taxes, our family taxes and our now mostly grown children's taxes. They are always prompt, professional and friendly to work with. I wouldn't go anywhere else. The comfort of knowing that our tax preparation is done right the first time every time is worth it's weight in gold. ~ Ginny I.

http://smt-associates.com/testimonials/798/

Personal, fast responsive time and service.. I would recommend SMT & Associates to any individual or business looking for outstanding tax preparation and service.

~ Keith C.

2014-02-06T13:07:11+00:00

Personal, fast responsive time and service.. I would recommend SMT & Associates to any individual or business looking for outstanding tax preparation and service. ~ Keith C.

http://smt-associates.com/testimonials/797/

I am extremely pleased with SMT's services. In particular, they have been especially helpful when it comes to some of the unusual or complicated situations surrounding our tax returns. They are responsive and provide sound recommendations.

~ Mike L.

2014-02-06T13:05:58+00:00

I am extremely pleased with SMT's services. In particular, they have been especially helpful when it comes to some of the unusual or complicated situations surrounding our tax returns. They are responsive and provide sound recommendations. ~ Mike L.

http://smt-associates.com/testimonials/796/

Very professional, very courteous, and very thorough. Easy to do business with. Advise and consultation is very valuable. Good all around customer experience.

~ Richard S.

2014-02-06T13:04:40+00:00

Very professional, very courteous, and very thorough. Easy to do business with. Advise and consultation is very valuable. Good all around customer experience. ~ Richard S.